Ken Corporation acquired equipment on January 1, 20X0, for $600,000, with an estimated useful life of 10 years and an estimated salvage value of $50,000. On January 1, 20X3, Ken Corporation revised the salvage value to $15,000 and revised the useful life to 9 additional years (12 years in total). What is depreciation expense for the year ending December 31, 20X3 if Ken Corporation uses straight-line depreciation?